Recycled Elastomers Market Size is valued at USD 9.5 Bn in 2023 and is predicted to reach USD 20.2 Bn by the year 2031 at a 10.1% CAGR during the forecast period for 2024-2031.
Recycled elastomers refer to rubber materials that have undergone reclamation or reprocessing from abandoned rubber items, including tires, industrial rubber debris, and consumer goods. Elastomer recycling is a crucial element of the rubber business as it promotes environmental sustainability through waste reduction and resource conservation. The method entails a series of procedures to convert scrap rubber into a viable form for new applications.
Several industries are driving the market expansion with their increasing use of elastomers. Healthcare and automotive sectors also make extensive use of elastomers in the production of items like tires and medical tubes. Because elastomers do not biodegrade and can build up to dangerous levels of chemical fumes that are harmful to humans, the increasing demand for these products creates sustainability concerns; thus, recycling elastomers is becoming more popular. Also, recycling gives you a leg up when it comes to trash management and helps the environment, so it’s a good choice for reusing elastomers. Because of these reasons, the worldwide market for recycled elastomers is expected to develop. The need for recycled elastomers is on the rise due to advancements in energy efficiency and sustainable resource reliance, as well as the electrical, automotive, and aerospace industries. It is expected to boost market expansion in the coming years.
However, the market expansion is being hindered by issues such as raw material price volatility, low awareness in developing nations, high costs of recycled elastomers, a lack of experience, a shortage of workforce, and the widespread usage of recycled elastomers. The market for recycled elastomers is being propelled by rising ecological consciousness coupled with strict legislation targeted at diminishing landfill trash and encouraging sustainable material utilization. Industries are being pushed to recycle elastomers into their manufacturing processes due to the increasing recognition and dedication to circular economies, which is growing the demand of the market in the coming years.
The recycled elastomers market is segmented based on material type, synthetic type, thermoset, thermoplastic, and application. Based on material type, the market is segmented into synthetic and natural. By synthetic type, the market is segmented into thermoset and thermoplastic. By thermoset, the market is segmented into recycled rubber, recycled polyurethane, and others. By thermoplastic, the market is segmented into styrene block copolymers (SBC), thermoplastic polyurethane (TPU), thermoplastic vulcanizate (TPV), and others. The application segment is categorized into automotive, industrial facilities, healthcare, packaging, construction, consumer goods, and others.
The synthetic category is expected to hold a major share of the global recycled elastomers market in 2023. It is attributed to the possibility of creating synthetic recycled elastomers in a lab by dispersing petroleum polymers in water. Due to their adaptability, high strength, and water resistance, these polymers find ideal use in a wide variety of industrial settings. During the projected period, the demand for synthetic recycled elastomers from the construction and automotive industries is expected to boost market growth. Furthermore, they are extensively utilized in a wide range of building materials, including paints, varnishes, sealants, adhesives, and more, to enhance binding, reduce cracking, and boost elastomer qualities.
The automotive segment is predicted to grow rapidly in the global recycled elastomers market due to the growing number of sustainability projects and the tightening of environmental standards. Automotive companies are making great strides in using recycled materials in their products to lessen their production costs and their impact on the environment. Tires, gaskets, and seals made of recycled elastomers are fueling the segment's expansion due to their long lifespan and low production costs.
The North American recycled elastomers market is anticipated to record the maximum market revenue share. It can be attributed to the abundance of land and the low cost of labor. The government’s growing support in the elastomer business is a boon to recycling efforts. The recycled elastomers market in the region is being boosted by a combination of factors, including government aid and economic stability, which lead to increasing consumption of machinery and equipment. In addition, North America is projected to grow rapidly in the global recycled elastomers market because of factors such as the increasing population, the need for more cars, the increased consumption of consumer products, and the rising industrialization.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 9.5 Bn |
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Revenue Forecast In 2031 |
USD 20.2 Bn |
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Growth Rate CAGR |
CAGR of 10.1 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Material Type, Synthetic Type, Thermoset, Thermoplastic, And Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Genan Holding Ltd., GRP LTD, Kraton Corporation, Eastman Chemical Company, BASF SE, Liberty Tier Recycling, LLC, J. Allcock & Sons Ltd, Austin Rubber Company, LLC, Tire Disposal & Recycling, Monmouth Rubber & Plastics, Audia Elastomers, Rubberfrom Recycled Products, LLC, Rubber Green, Emanual Tier, LLC, ExxonMobil, Zeon Corporation, Versalis S.p.A., Dow, Inc., PolyOne Corporation, Kuraray Co., Ltd, Texnor Apex Company, Mitsubishi Chemical Advanced Materials, Kraiburg TPE, RTP Company, Hexpol TPE. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Recycled Elastomers Market Snapshot
Chapter 4. Global Recycled Elastomers Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Material Type Estimates & Trend Analysis
5.1. by Material Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Material Type:
5.2.1. Synthetic
5.2.2. Natural
Chapter 6. Market Segmentation 2: by Synthetic Type Estimates & Trend Analysis
6.1. by Synthetic Type & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Synthetic Type:
6.2.1. Thermoset
6.2.2. Thermoplastic
Chapter 7. Market Segmentation 3: by Thermoset Estimates & Trend Analysis
7.1. by Thermoset & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Thermoset:
7.2.1. Recycled Rubber
7.2.2. Recycled Polyurethane
7.2.3. Other Thermosets
Chapter 8. Market Segmentation 4: by Thermoplastic Estimates & Trend Analysis
8.1. by Thermoplastic & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Thermoplastic:
8.2.1. Styrene Block Copolymers (SBC)
8.2.2. Thermoplastic Polyurethane (TPU)
8.2.3. Thermoplastic Vulcanizate (TPV)
8.2.4. Other Thermoplastics
Chapter 9. Market Segmentation 5: by Application Estimates & Trend Analysis
9.1. by Application & Market Share, 2019 & 2031
9.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
9.2.1. Automotive
9.2.2. Industrial Facilities
9.2.3. Healthcare
9.2.4. Packaging
9.2.5. Construction
9.2.6. Consumer Goods
9.2.7. Other Application
Chapter 10. Recycled Elastomers Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. North America
10.1.1. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Material Type, 2019-2031
10.1.2. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Synthetic Type,2019-2031
10.1.3. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoset, 2019-2031
10.1.4. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoplastic,2019-2031
10.1.5. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Application, 2019-2031
10.1.6. North America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2019-2031
10.2. Europe
10.2.1. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Material Type, 2019-2031
10.2.2. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Synthetic Type,2019-2031
10.2.3. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoset,2019-2031
10.2.4. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoplastic,2019-2031
10.2.5. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Application, 2019-2031
10.2.6. Europe Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2019-2031
10.3. Asia Pacific
10.3.1. Asia Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Material Type, 2019-2031
10.3.2. Asia Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Synthetic Type,2019-2031
10.3.3. Asia-Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoset,2019-2031
10.3.4. Asia-Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoplastic, 2019-2031
10.3.5. Asia-Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Application, 2019-2031
10.3.6. Asia Pacific Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2019-2031
10.4. Latin America
10.4.1. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Material Type, 2019-2031
10.4.2. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Synthetic Type,2019-2031
10.4.3. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoset,2019-2031
10.4.4. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoplastic,2019-2031
10.4.5. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Application, 2019-2031
10.4.6. Latin America Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2019-2031
10.5. Middle East & Africa
10.5.1. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Material Type, 2019-2031
10.5.2. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Synthetic Type,2019-2031
10.5.3. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoset,2019-2031
10.5.4. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Thermoplastic,2019-2031
10.5.5. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Application, 2019-2031
10.5.6. Middle East & Africa Recycled Elastomers Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2019-2031
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Genan Holding Ltd.
11.2.2. GRP LTD
11.2.3. Kraton Corporation
11.2.4. Eastman Chemical Company
11.2.5. BASF SE
11.2.6. Liberty Tier Recycling, LLC
11.2.7. Business Overview
11.2.8. Product Offerings
11.2.9. J. Allcock & Sons Ltd
11.2.10. Austin Rubber Company, LLC
11.2.11. Tire Disposal & Recycling
11.2.12. Monmouth Rubber & Plastics
11.2.13. Audia Elastomers
11.2.14. Rubberfrom Recycled Products, LLC
11.2.15. Rubber Green
11.2.16. Emanual Tier, LLC
11.2.17. ExxonMobil
11.2.18. Zeon Corporation
11.2.19. Versalis S.p.A.
11.2.20. Dow, Inc.
11.2.21. PolyOne Corporation
11.2.22. Kuraray Co., Ltd
11.2.23. Texnor Apex Company
11.2.24. Mitsubishi Chemical Advanced Materials
11.2.25. Kraiburg TPE
11.2.26. RTP Company
11.2.27. Hexpol TPE
11.2.28. Avient
11.2.29. Other Prominent Players
Recycled Elastomers Market By Material Type-
Recycled Elastomers Market By Synthetic Type-
Recycled Elastomers Market By Thermoset-
Recycled Elastomers Market By Thermoplastic-
Recycled Elastomers Market By Applications-
Recycled Elastomers Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
